Current:Home > reviews"Unbelievably frugal" Indianapolis man left $13 million to charities -Wealth Empowerment Academy
"Unbelievably frugal" Indianapolis man left $13 million to charities
View
Date:2025-04-17 19:53:26
Indianapolis — At Teachers' Treasures, a free store in Indianapolis for educators who need school supplies, executive director Margaret Sheehan is still stunned at her good fortune after someone called to offer her nonprofit more than $1 million.
"It was an act of amazing kindness to which I responded, 'I need to sit down,'" Sheehan told CBS News."
And it wasn't just her. For the past two years across Indianapolis, dozens of other nonprofits have gotten the same call.
"The first thing he said was, 'What would you do with $1 million?'" said Emmy Hildebrand, CEO of the group Helping Veterans and Families of Indiana.
"We hovered above our own bodies, thinking, like, is this real?" said Julie Henson, vice president of development for Coburn Place, which provides support and housing to survivors of domestic violence.
The man making the calls was attorney Dwayne Isaacs. He says just about everyone had that same reaction, and some wouldn't even hear him out because it sounded so unbelievable.
"Probably three or four different entities that lost out because they just didn't take my call," Isaacs told CBS News.
The money isn't Isaacs. He's just the executor. The money belonged to a man named Terry Kahn, who worked for 30 years for the Veterans Administration. He had no immediate family.
Most importantly, according to Isaacs, "he just was unbelievably frugal."
Kahn lived in a modest house in south Indianapolis. He drove an old Honda and refused to carry a cellphone because he said they cost too much.
Even when he died in 2021, he wanted no announcement, because who would spend good money on an obituary? The man was pennywise, but pound generous.
Everything was directed to charity. But in his will, Kahn didn't specify which charity, so Isaacs called around to see who wanted it. In the end, about a dozen nonprofits took his call and got a share of the $13 million estate. That included $1.5 million for Teachers' Treasures, roughly double their annual budget.
"Forever changed because of his choice and how he lived," Sheehan said.
"He's smiling some place, there's no doubt about it," Isaacs said. "He would be getting a kick out of this."
- In:
- Indianapolis
- Nonprofit
Steve Hartman has been a CBS News correspondent since 1998, having served as a part-time correspondent for the previous two years.
veryGood! (73)
Related
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- A Texas 2nd grader saw people experiencing homelessness. She used her allowance to help.
- Mahomes, Kelce are headed to the Super Bowl after Chiefs shut down Ravens 17-10
- 'American Fiction,' 'Poor Things' get box-office boost from Oscar nominations
- Police remove gator from pool in North Carolina town: Watch video of 'arrest'
- Will Taylor Swift attend Super Bowl 58 to cheer on Kansas City Chiefs' Travis Kelce?
- Three Americans killed, ‘many’ wounded in drone attack by Iran-backed militia in Jordan, Biden says
- The IRS is piloting new software that could let you file your taxes for free
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- Bullfighting set to return to Mexico City amid legal battle between fans and animal rights defenders
Ranking
- Golf's No. 1 Nelly Korda looking to regain her form – and her spot on the Olympic podium
- Document spells out allegations against 12 UN employees Israel says participated in Hamas attack
- Iran’s top diplomat seeks to deescalate tensions on visit to Pakistan after tit-for-tat airstrikes
- Kate, princess of Wales, is discharged from London hospital after abdominal surgery
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Trial set to begin for 2 accused of killing Run-DMC’s Jam Master Jay over 20 years ago
- Walmart’s latest perk for U.S. store managers? Stock grants
- Oklahoma City wants to steal New York's thunder with new tallest skyscraper in US
Recommendation
Mega Millions winning numbers for August 6 drawing: Jackpot climbs to $398 million
Taylor Swift and Jason Kelce Support Travis Kelce at AFC Championship
U.S. pauses UNRWA funding as U.N. agency probes Israel's claim that staffers participated in Oct. 7 Hamas attack
Takeaways from the AP’s investigation into how US prison labor supports many popular food brands
Jay Kanter, veteran Hollywood producer and Marlon Brando agent, dies at 97: Reports
2024 Super Bowl: Odds, TV, date and how to watch San Francisco 49ers-Kansas City Chiefs
Poland protests error in a social media post by EU chief suggesting Auschwitz death camp was Polish
Islamic State claims responsibility for attack on Istanbul church that killed 1